Home
$100 million to localize the pharmaceutical industry
Iraq 05/09/2024
[You must be registered and logged in to see this image.]
, the National Health Factory revealed that it had agreed with a Turkish bank on a contract worth $100 million to finance his project, which will improve the pharmaceutical industry in the country.
The Chairman of the Board of Directors of the factory, Engineer Ali Hazem Kamal, who accompanied the Prime Minister on his recent visit to the United States of America, said in an interview with “Al-Sabah”: “The government has tended, within the budget law, to give sovereign guarantees to any factory that wishes to import production lines to develop its production.”
He added, "The government decided to be the guarantor of providing all production lines, as the factory owner creates 30 percent of his project as construction work, so that specialized committees can review the stages of completion of this project and sign a statement supporting this."
Kamal stated, “There are machines with very high amounts, and it is difficult for the investor to provide those amounts in cash and put them in the bank, as the government decided to be a guarantor for these projects by paying 85 percent of the values of those machines to the investor who meets the necessary conditions for that, and who will pay 15 percent.” of the value of those machines and shall be deposited in the Iraqi Trade Bank.
He stressed that "the import of production lines is in the name of the government and does not entail any financial burdens, which will return to the investor once the entire loan amount is paid from the project's production."
Kamal continued, "The factory held a meeting with one of the Turkish banks, where the Iraqi Trade Bank agreed to grant it the loan for the purpose of importing machines, and it owns a branch in Iraq and trusts the government and accepted the sovereign guarantee."
He noted, "The Turkish Bank will pay the value of the factories that will produce for the project after depositing 15 percent of the value of the machines, while the rest of the amount will be sovereign guarantees obtained by the Turkish Bank in order to pay the main factories that manufacture the machines."
The Chairman of the Board of Directors of the National Health Factory described this step as “successful and could benefit many pharmaceutical factories, in addition to its benefit that is in the interest of the pharmaceutical industry in the country.”
Edited by: Abdul Rahman Ibrahim
[You must be registered and logged in to see this link.]
» Al Rasheed Bank launches a batch of loans to support graduates and job seekers
» For the first time after its accession, Iraq participates in the 33rd session of the European Bank G
» Signing an initialed contract to develop the Mansouri gas field
» Al-Sudani: The United Nations asked us for two years to finish the work of their mission in Iraq
» Al-Shuhada announces the launch of the link to apply for financial aid
» Important security laws awaiting legislation. Learn about them
» A parliamentary demand to legislate a law to recover the proceeds of corruption
» Oil signs a contract with a coalition of Chinese companies JERA and Iraqi Petroleum
» Increase in foreign remittance sales at the Central Bank of Iraq auction
» Among them is related to capital...economic questions haunting the work of digital banks
» "Rentier economy"... Iraq counts its revenues within 3 months
» Iraq signs a contract to develop the Mansouriya gas field
» Al-Allaq announces the start of the second phase of the banking sector restructuring plan
» Al-Allaq announces the start of the second phase of the banking sector restructuring plan
» The path to development... transportation explains the importance of contracting with an internation
» Muhammad Mokhber...from the presidency of the Setad Investment Fund to the helm of power in Iran
» Iraq recently contracted to purchase it. Learn about the type of the Iranian president’s crashed pla
» An unprecedented step.. Kurdistan takes a new measure regarding its non-oil revenues
» The Iraqi Trade Bank announces facilities for the health sector with external transfer operations
» Al-Sudani describes basic services as “items of interconnection” between the citizen and the governm
» The Central Bank begins the second phase of its banking reform strategy
» Sudanese: Priority is for service and infrastructure projects
» May 26th...the date for the “trial census”
» Starting the second phase of the banking sector restructuring plan
» 90 billion dinars to move to clean energy projects
» National Security dismantles a fraud network
» Work: There is a great demand for registration with the Social Security Law
» The Federal Republic rejects the challenge to the seat distribution system in the local elections
» Opening 3 pharmaceutical factories
» An Iraqi medical delegation prepares for the evacuation of wounded Palestinians to Baghdad
» Kurdistan is awaiting a “parliamentary decision” and the region’s presidency has set its sights on “
» The International Monetary Fund calls on Iraq to cancel appointments to correct financial conditions
» After yesterday's "chaos"... How do you resolve the "dilemma" of choosing the Speaker of the Iraqi P
» Iraq: Shiite pressure to end the tasks of the UN mission under the pretext of exceeding powers and f
» Dr. Goldran Abdel Rahim, Professor of Banking and Finance: We must pay great attention to technology
» The Federal Court rejects the appeal regarding the seat distribution system for the provincial counc
» Heyman Murad: The number of people working in the agricultural sector in Erbil exceeds 150 thousand
» Another 15 thousand employees in the Kurdistan Region receive their salaries through “My Account”
» Al-Mashhadani will not return.. How did Humam Hamoudi’s house meeting overthrow Al-Maliki’s candidat
» The Minister of Electricity calls for the ministry's energies to be mobilized in preparation for the
» The Iraqi Central Bank reveals a trend to license digital banks
» Former Iranian Minister: America caused a major plane crash
» Legal odds are that Al-Mandalawi will remain Speaker of Parliament until the end of the current sess
» The Foreign Ministry confirms Iraq's readiness to provide all forms of support to Iran
» Al-Sudani: The development path is the strategic corridor that will connect the interests of the reg
» The President of the Republic offers his condolences on the death of the Iranian President and his F
» The Council of Ministers votes on the budget schedules and refers them to Parliament
» An unruly policy or a necessary need? .. Floating the currency between economic benefit and disadvan
» utube 5/19/24 BRICS to Open a Central Bank Iraqs Relationship to BRICS Exchange Rate Up
» utube 5/18/24 MM&C Iraq Dinar - Iraq Central Bank - IMF - UNAMI - World Bank - Key Votes Tabled -
» Floating the Iraqi dinar A solution to fill the "gap" of its turbulent price against the dollar
» Kanna: The Constitutional Amendments Committee was completely marginalized for two reasons
» The repercussions of the Ukrainian company continue.. Is Iraq facing a real economic disaster?
» A government body sends an invitation to the Central Bank regarding the Hajj dollar
» Pessimism surrounds the electricity situation during the summer: the suffering will be repeated and
» Presidency of Parliament is Haqq Anbari.. Why does “Progress” stand against this entitlement? - Urge
» Bloomberg: Iraq achieves sufficiency in diesel fuel and stops importing it
» Hajj calls on the Central Bank to direct banks to open their doors to pilgrims to exchange dollars
» In an extraordinary session...the Council of Ministers votes today on the budget schedules
» Al-Khanjar: Parliament members presented a chaotic model that does not befit Iraq
» The President of the Republic told NATO: The Iraqi army has the readiness to face security challenge
» List of countries exporting most goods and services in the world.. What is Iraq’s rank?
» The General Tax Authority initiates a package of reforms to achieve “two goals”
» A Jordanian minister reveals "significant" coordination with Iraq and talks about smuggling operatio
» The Sudanese confirms to his Kuwaiti counterpart the depth of the two countries’ relations and the s
» With documents... Finance publishes controls that concern the segment of employees, including promot
» A female representative explains the government’s ambition to reach the production of 8 million barr
» Next month... a major conference to announce 8 cities as investment opportunities
» The presence movement: Iran urged Barzani to participate in the region’s elections
» In a strange incident, they disowned him because of Al-Halbousi’s anger at him
» Race for the Presidency of Parliament.. The Sunni conflict is worsening
» Responding to the challenge to the constitutionality of the seat distribution system in the provinci
» Demanding an increase in the allocations for two ministries in the current year’s budget
» Parliamentary Finance: Employee salaries amounted to 8 and a half trillion
» In the amount of 10 million... an Iraqi government bank begins granting loans to married couples
» Hajj and Umrah Authority: Iraqi banks refrain from receiving pilgrims
» The Minister of Electricity calls for mobilizing energies in preparation for the upcoming summer sea
» The United Nations Development Program approves the electronic payment services system in Iraq
» Iraqi oil exports to America declined within a week
» Parliamentary praise for the government’s plans to implement projects to solve the housing crisis
» Has the government succeeded in controlling crowding by changing working hours?
» “Ali is not compensated with money, but I demand my rights.” An Iraqi sues a British oil company for
» Planning: The pilot census will start on the 26th of this month
» A project to develop a climate investment plan in Iraq
» Parliament awaits “budget schedules”
» Parliament: Infrastructure is the most important challenge of the housing crisis
» Announcing 8 cities as investment opportunities
» Minister of Health: We are proceeding with a project to manage modern hospitals by specialized compa
» An Iraqi initiative to ban the political exploitation of religions
» 70% completion of the Kompsan Dam in Erbil
» Paying off external debt is a step to promote stability and recovery
» An economic forum discusses business opportunities with Islamic countries
» More than one billion dollars in sales from the Central Bank of Iraq within a week
» Pakistan and its economic challenges
» Economic researchers emphasize promoting the culture of electronic payment
» The events in Parliament were “intended”... A politician accuses “Taqaddum” of preventing a figure f
» The Federal Court rejects the challenge to the constitutionality of a text in the seat distribution
» Primitive management of waste and medical waste in Baghdad... another danger threatening the populat